LONG AUDUSD

Stopped out last night... RISK MANAGEMENT + RISK/REWARD = EDGE
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1H (lower timeframes) are currently rejecting the Daily level and bullish engulfing. A 4H bullish engulfing above the Daily level would show that the buyers are in control. Confluence with 38.2 fib retrace lining up with a Daily level.

Previous analysis:

- 4H 38.2 rejected, sellers exhaustion on 4H, Daily support (confluence) rejected
- Potential inverse H&S forming on H4, with bullish reversal candlesticks on the Daily timeframe

- Target 1 is -27.2 fib based off of the 4H
- Target 2 is -61.8 fib based off of the 4H



Risk reward = > 4 to 1

Risk management = .30 per $1000


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BTC Tip Address = 16GRNwkudMQbYSyayQDPFLEKhjdBfGyXcK